KBC

On March 28th, 2024 morning, at Que Vo Industrial Park - Bac Ninh province, Kinh Bac Urban City Development Corporation (KBC) successfully held the first Extraordinary General Meeting of Shareholders in 2024. Attending the General Meeting of Shareholders were 145 shareholders (including shareholders and authorized representatives of shareholders), representing 471,873,187 shares, accounting for 61.4735% of the total 767,604,759 shares, equivalent to 767,604,759 voting rights of all shareholders. Mr. Dang Thanh Tam - Chairman of the Board of Directors ran the Meeting.

The Presidium run the Meeting

At the Meeting, KBC was approved by shareholders for the 2024 business plan with an expected consolidated revenue target of 9,000 billion VND and an expected consolidated profit after tax of 4,000 billion VND. The plan was made based on the prospects of Vietnam's economy. The year 2024 has begun to receive positive signals from the capital market and monetary policy. Along with that, the Government is implementing and developing legal policies to remove obstacles and difficulties for the real estate market and make efforts to promote the stock market to develop in a sustainable and long-term direction.

Mr. Dang Thanh Tam - Chairman of the Board of Directors ran the Meeting

The Board of Directors expected that the legal procedures of a number of projects will be completed and approved from the second quarter of 2024 such as: Trang Due 3 Industrial Park, Loc Giang Industrial Park, Phuc Ninh Urban Area, Trang Cat Urban Area, ... Estimated rental area of Industrial park in 2024 will be about 150 ha from: Nam Son - Hap Linh IP, Quang Chau IP, Tan Phu Trung IP; Industrial clusters in Hung Yen, Long An and especially Trang Due 3 IP. In addition, a number of Urban Area projects are expected to record revenue and bring profits in 2024.

KBC is also in the process of carrying out the necessary legal procedures to continue to be approved for new projects in Bac Ninh, Thai Nguyen, Hau Giang, Can Tho, Vung Tau, ... with a total estimated area of about 3,500 ha of industrial park land and 650 ha of urban area land.

In 2023, KBC timely and early repurchased the entire bond principal balance of 3,900 billion VND; fully paid bond interest of nearly 162 billion VND; thus, the outstanding bond debt as at June 30th, 2023 was 0 VND.

At the discussion session, KBC leaders said that KBC always innovates ways and objects to attract investment. In recent years, KBC has become interested in chip manufacturing, green technology and AI. In addition to high technology, semiconductors, etc; there are many fields to attract investment such as healthcare, education. KBC's goal is to have the world's leading businesses invest in Vietnam.

Mrs. Nguyen Thi Thu Huong - General Director of KBC shared at the discussion session

In 2023, KBC has not yet been able to do some tasks as promised to focus on more priority tasks such as paying off bond debt of nearly 4,000 billion VND and doing some investment work to prepare cash flow for the company in the coming years.

At the Meeting, KBC's Board of Directors expected the Government's drastic policies and flexible mechanisms in the localities where KBC has recently implemented projects to remove difficulties for the real estate market, thus, promoting the development of many companies in general and KBC in particular in 2024.